GCash parent eyes near-P100-B in landmark IPO
MYNT’S IPO would expose investors exposure to a highly successful Philippine tech company that has been largely absent from the local stock exchange.
DAILY TRIBUNE IMAGE
Daily TribuneMYNT’S IPO would expose investors exposure to a highly successful Philippine tech company that has been largely absent from the local stock exchange.
DAILY TRIBUNE IMAGE
Mynt Inc., the parent company of GCash, is lining up a stock market debut that could raise as much as P92.3 billion, after filing its registration statement with the Securities and Exchange Commission (SEC) and application to list on the Philippine Stock Exchange (PSE).
The company said Monday that the proposed initial public offering (IPO), targeted for the fourth quarter, could generate gross proceeds of up to P92.3 billion at an indicative offer price of up to P10 per share, assuming the overallotment option is fully exercised.
The final offer price will be determined through a book-building process and remains subject to regulatory approvals and prevailing market conditions.
The proposed offering will consist of up to 8.03 billion common shares, with an overallotment option of up to 1.20 billion secondary shares.
Of the firm shares, up to 1.61 billion will be newly issued and sold by Mynt, while up to 6.42 billion existing shares will be offered by current shareholders.
Following the transaction, Mynt expects to have 66.9 billion common shares outstanding.
The firm shares will represent about 12 percent of the company's issued and outstanding capital stock, increasing to 13.8 percent if the overallotment option is exercised in full.
"GCash has become an indispensable part of everyday life for millions of Filipinos. From 90 million registered users, today about 40 million now actively use the platform every month, representing nearly half of the country's adult population. Roughly 78 percent of GCash users reside outside Metro Manila, and 92 percent belong to lower-income groups," said Mynt President and CEO Martha Sazon.
"As we embark on the next chapter of Mynt, our mission remains steadfast: to reach and serve millions more Filipinos, drive continuous innovation, and ensure that everyone is safely, securely, and meaningfully included in the digital economy," she added.
Morgan Stanley & Co. International PLC, J.P. Morgan Securities plc, and UBS AG Singapore Branch are acting as joint global coordinators for the transaction.
Jefferies Singapore Limited is the international joint bookrunner, while BPI Capital Corp. and BDO Capital & Investment Corp. are the domestic lead underwriters.
The proposed IPO remains subject to SEC registration, PSE listing approval, final pricing, and market conditions.
As of the end of 2025, Mynt posted P79.8 billion in revenues and P17.2 billion in net income.
Its GCash platform served 39.1 million monthly active users during the year, processed P17 trillion in payment solutions gross transaction value, and handled an average of 56.7 million daily transactions.